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Federal Employees Benefits Q &A

Do you have questions about your federal employee CSRS or FERS pension/annuity or federal employee retirement planning? Concerns about your Thrift Savings Plan (TSP) account or what about federal employee pay and leave issues?

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The Q&A forum is moderated by Ed Zurndorfer -- an expert on federal employee benefits -- and a Certified Financial Planner, chartered life underwriter and chartered financial consultant in Maryland.

Zurndorfer is also the author of several federal employee benefits guides published by Federal Employees News Digest.

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wwjosh19  
#1 Posted : Tuesday, October 8, 2019 6:05:07 AM(UTC)
wwjosh19

Rank: Newbie

Groups: Registered
Joined: 2/19/2015(UTC)
Posts: 5
Location: DC

Thanks: 1 times
Hi, I am ready to submit my signed retirement package that include the W-4P, 2801, 2801-1, TSP and CSRS beneficiary designation. Two questions :

Question 1 - Do we need to send State tax withheld form. I submitted the W-4P with single status and 1 allowance. Friends told me I need to send withhold form to state as well.

https://taxes.marylandta..._Withholding_Forms.shtml

https://forms.marylandta....gov/19_forms/MW507P.pdf (for retirees)

reference: I live in Maryland, single. CSRS-offset, Retirement date 1/3/2020

Question 2 - Should I get Medicare Part B. I kept hearing colleagues said it is good to get Part B to supplement the current federal insurance (I have Blue cross and Blue shield basic)

Thanks

Josh


Ed Zurndorfer  
#2 Posted : Tuesday, October 8, 2019 6:31:21 AM(UTC)
Ed Zurndorfer

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Joined: 9/10/2001(UTC)
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Was thanked: 150 time(s) in 140 post(s)
The answer to both of your questions is yes - (1) You should submit the state withholding form in order to have state income taxes withheld from your CSRS annuity check; and (2) You are highly encouraged to enroll in Medicare Part B.
thanks 1 user thanked Ed Zurndorfer for this useful post.
wwjosh19 on 10/16/2019(UTC)
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